The Federal Reserve didn't institute an official no comment period before meetings until 2011

The Federal Open Market Committee is a 12-member voting body that sits within the Fed

The committee meets every six weeks to decide whether to maintain, raise, or lower the federal funds rate, which determines all lending costs in the US. It consists of the seven permanent central board members, the president of the New York Fed, and four rotating heads of the other 11 regional banks.

The central bank was designed to operate free of short-term political influence to prevent the Fed from making disastrous policy decisions

Although the Fed Chair and the six other Governors of the Board are appointed by the US president and approved by Congress, the Fed is not funded by congressional appropriation, and its board members are appointed to lengthy 14-year terms.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

The Federal Reserve is the central bank of the US

No institution wields more power in US finance than the Federal Reserve—but opinion polls indicate that most Americans don't know what it does. Curious about the country's central bank? 1440's got your breakdown of how the Federal Reserve works.

Get the inside story of the duck hunt that birthed the Federal Reserve

Pseudo-duck hunters, private train cars in Hoboken, and a thrilling work week over Thanksgiving 1910—all and more are featured in the wild story of how a group of fed-up bankers and lawmakers tried to create an enduring central bank for the US. Records of the meeting managed to remain hidden for decades.

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

Read former Fed chair Ben Bernanke's 2002 speech about preventing deflation

Very low inflation rates in the early 2000s in the United States and a worsening recession in Japan sparked some domestic concern over the threat of deflation. While Bernanke wasn't Chair at the time of the speech, he emphasized the Fed's role in preventing deflation.

See a chart of public trust in the Federal Reserve

An illuminating chart shows the percentage of Americans who trust the current Fed Chair, going back to 2005. See how we went from Alan Greenspan’s 74% trust level to Janet Yellen’s 38%.

While the Fed is involved in issuing new generations of cash, the way it adds to the money supply does not involve printers

The majority of money in circulation is credit, not cash. This credit, which acts similarly to direct deposit from employers, is added to bank accounts by the Federal Reserve. The Fed also employs tools like the federal funds rate and open market operations to expand or contract credit.

Congress banned banks from paying checking account interest for 80 years

Known as "Regulation Q," the act sought to stop bank competition for customers involving increasing interest rates in the 1930s. This competition led banks to make reckless investment decisions to pay higher interest rates. During the ban, banks competed by focusing on convenience (ATMs, branches), relying on fees, and building relationships.

Federal Reserve chair Jerome Powell is a Deadhead

For the uninitiated, that means Powell is an avid fan of the band The Grateful Dead. Powell is also a musician, cyclist, and dog park kerfuffle survivor.

Arguments for returning to a gold standard reappear from time to time

However, critics argue that globalization has made the gold standard impractical for modern economies, as it limits a nation’s ability to have a flexible monetary policy—hence, none of today's governments have a gold standard.

Why Americans don’t talk about money

In the United States, asking someone how much money they make (or any questions about money, really) has long been considered rude. But where did this social norm come from originally? And why do Americans still feel so awkward talking about money? This article from The Atlantic takes a deep dive into the socioeconomic forces that created the money taboo. Read the full piece here.

Time magazine named Ray Dalio one of the 100 most influential people in 2012

Dalio's profile, written by former Federal Reserve Chairman Paul Volcker, praised Dalio for his investment strategy and his deep understanding of economics, if unorthodox at times. Volcker particularly appreciated Dalio's support for the Federal Reserve's handling of the 2008 financial crisis. Dalio and Volcker were longtime friends—Dalio has referred to Volcker as "the most principled man" he knows.

Recessions are often called retroactively, rather than while they’re occurring

Because recessions are recognized when a wide array of economic factors like falling GDP and high unemployment converge, they are often officially recognized after the fact.

Modern Monetary Theory 101

Modern Monetary Theory is a macroeconomic theory that says government spending should not be restrained by fears of rising debt. Here's a breakdown of how the theory works.

Government shutdowns halt nonessential services and furlough federal workers

When Congress fails to pass a budget or stopgap funding, the government shuts down. This video explains which services stop, who is furloughed, and how shutdowns ripple through the economy and daily life.

Listen to the methods and strategy of the secretive S&P 500 selection committee

Stocks are added to the S&P 500 by a secret selection committee that meets regularly to assess which companies can remain in the index, which companies need to be added, and which companies no longer meet the criteria. The members of the committee used to be public, but S&P Global decided to keep its members confidential after companies sent packages, letters, and gifts to try to make it into the index.

Many economists see Black Friday as a litmus test for consumer confidence

Some investors and analysts look at Black Friday’s sales numbers as a way to gauge the overall health of the retail industry—and consumer confidence at large. However, others don’t believe Black Friday results have a particularly significant impact on markets, arguing that the figures only cause short-term gains or losses.

The opposition party to the president first delivered a televised response in 1966

Television networks first granted airtime to the out-of-power party in 1966, with Republicans Everett Dirksen and then-Representative Gerald R. Ford delivering the inaugural response. See a list of each opposition response to the State of the Union since then.

Housing 'starts'— new constructions—signal the health and future of real estate

The Federal Reserve Economic Data, or FRED, tracks monthly “housing starts,” the number of new residential construction projects being built. Some argue this data can serve as an economic barometer.

What is after-hours trading?

While both the New York Stock Exchange and the Nasdaq open at 9:30 am ET and close at 4 pm ET, some trading is allowed after that. After-hours trading was once only open to institutional investors and people with particularly high net worths. Now, with the advent of computers, anyone can trade stocks anywhere online, and those regulations have broadened.

Borrowers were increasingly defaulting on private credit loans as of early 2026

Risks in private credit investing include the industry's lack of transparency and the ability of businesses to borrow more than a bank might allow against their debt. Some borrowers in early 2026, for instance, likely did not expect interest rates to be so high for so long, which could be contributing to an uptick in defaults.

Embargoes and economic mismanagement have pushed Cuba into its worst crisis in decades

For more than 60 years, Cuba has been pressured by two forces—the US economic embargo and its own government's repression and mismanagement. NPR's Throughline podcast explains how both contributed to today's blackouts, food shortages, and mass exodus.

The Senate's filibuster—a procedure that allows for unlimited debate—is not in the Constitution

In the United States Senate, the filibuster enables senators to delay or block legislation. Ending debate became possible in 1917 with a cloture rule requiring a two-thirds vote. In 1975, that was changed to 60 votes in most cases.

Explore the use of executive orders over time

An executive order is a presidential directive that manages the federal government and carries the force of law when authorized by the Constitution or statute. Since 1789, more than 16,000 have been issued—Franklin D. Roosevelt used the most, signing 3,721 during his 12 years in office.

US federal researchers are blocked from putting certain human cells in animals

In 2015, US policymakers put a halt to any government-funded work that would insert human stem cells into animals. The reasoning was that human cells might spread through the animal's body and perhaps to its brain, blurring the line between humans and nonhumans. The ban remains in place today even as gene-edited pig parts are being placed in humans.

Despite being favored by 87% of Americans, Congress does not have term limits.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

The distributor behind 'Rocky Horror' pulled the film from its scheduled national release, believing it would be a failure, though it eventually amassed a dedicated fanbase through midnight showings, a trend that continues over 50 years later.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

Discover the catastrophic consequences of a failure of the US electrical grid—something that is more likely than many Americans think.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

'Silent' fireworks have gained more interest in recent years as a quieter celebratory option.

After the Boston Tea Party, colonists switched to coffee, which became the main morning drink for revolutionaries.

A 2019 Facebook event called on attendees to "Storm Area 51, They Can't Stop All of Us," resulting in countless memes, the creation of a music festival, and eventually the arrests of those who did try to approach the area.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

A researcher recently discovered an interview from 1967 between groundbreaking journalist Joan Didion and the Grateful Dead, years before the band became an institution.

American dance legend Martha Graham, sometimes called 'the Picasso of dance,' refused to perform at the 1936 Olympics in Berlin and conceived the piece 'Chronicle' in response to the experience.

Doctors differentiate between a phobia and fear by asking patients whether their fear interferes with their day-to-day activities.

Most of the observable universe's volume consists of voids and supervoids—enormous regions of space with little to no galaxies, stars, or light.

The Mona Lisa's celebrity status and repeated restorations have obscured what made the painting so revolutionary for its time

The hormonal disorder PCOS was renamed PMOS in 2026, a move designed to improve care and research by shifting the focus to the hormonal causes of this condition that affects 1 in 8 women.

An Ebola vaccine was developed during the 2018 west African Ebola outbreak, but the 2026 Ebola outbreak is with a different species of the virus, not the one that the vaccine is approved to treat.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

When caught in the mouths of cardinal fish, seed shrimp release glowing, bioluminescent chemicals, which alert predators of the cardinal fish, prompting the shrimp's ejection.